“While increased climate risks predominantly fall on the most vulnerable parts of society and the planet, it is mainly the developed countries that can make all the difference through the neutralisation of greenhouse gases.”
This is according to a report by Energy UK.
The organisation called on the government to set out a long-term plan to remove carbon emitting technologies from the marketplace in order to generate demand for environmentally-friendly solutions, alongside a review of taxation, subsidy and incentives across all sectors to ‘signal the change required’ and to generate revenue to support climate action solutions.
The report outlined the importance of the energy sector to the UK economy. 144,000 people are employed directly within the energy industry in the UK with an additional 620,000 supported indirectly. This is one in 46 people across the UK. Last year, the energy sector contributed to the UK economy with £33.5bn created in economic value, an increase of £1.9bn from 2017.
Since the Climate Change Act was introduced, the power sector has reduced emissions by 54%, reducing its share of the UK’s total emissions by one third.
